General Discussion

One_Life_To_Give

(6,036 posts)

34. Because Tax Free Muni's pay even less

Fri Oct 31, 2014, 02:20 PM

Oct 2014

Dropping Capital Gains Rates made Stocks more advantageous. Which helped to prop up the DJIA which IMO was a reason for it being done at the time. Putting it back would not be a bad idea now IMO. Putting it at 80% might wipe out Pension/Retirement accounts as Capital flight to other investment vehicles take place.

The Rich are in the business of Doing Best Option. When you tweak the tax code you may change what Best Option is and the Rich respond by shuffling how they are invested. Same as we change to a Credit Card with a Lower Rate. If a bank suddenly switched to a 80% interest rate on Credit Card purchases. It wouldn't be long before shredded plastic filled their mail and people found a lower rate or other alternative.

There are a number of worthwhile idea's to consider. None of which involve Confiscatory tax rates.

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Highlight:

Saez & Piketty--Why the 1% should pay tax at 80% [View all] Triana Oct 2014 OP

K&R.... daleanime Oct 2014 #1

What a load of crap MaggieD Oct 2014 #2

Missed the last paragraph in the OP? ieoeja Oct 2014 #3

Yeah, right MaggieD Oct 2014 #5

I doubt you would find a single democratic voter who would disagree with you. ieoeja Oct 2014 #9

No, it's NOT the same thing MaggieD Oct 2014 #15

now you are talking about corporations versus individual taxes hfojvt Oct 2014 #22

Tell me all about your small business MaggieD Oct 2014 #31

Then just incorporate. lancer78 Oct 2014 #45

No you don't MaggieD Oct 2014 #46

Let's do both, ... aggiesal Oct 2014 #4

Let's see Boeing or GE pay a dime of taxes first MaggieD Oct 2014 #6

I, me, my and mine! n/t ieoeja Oct 2014 #10

You don't even know me MaggieD Oct 2014 #12

Seriously. You have been a complete total jerk in every single post thus far in this thread. n/t ieoeja Oct 2014 #14

Funny, that's how I see.... MaggieD Oct 2014 #16

I assume you meant the "royal you" as referencing DU rather than me since I have already agreed ... ieoeja Oct 2014 #21

Agreed - thank you MaggieD Oct 2014 #35

That's how I feel as well - TBF Oct 2014 #23

Thanks. Nice to hear that someone else gets it MaggieD Oct 2014 #30

WOW, you need a new accountant. ... aggiesal Oct 2014 #44

We finally got a CPA for this past year - TBF Oct 2014 #47

GE does not pay individual income taxes hfojvt Oct 2014 #24

Oh please explain that.... MaggieD Oct 2014 #29

Where the heck are you getting $250 million? hfojvt Oct 2014 #38

Also very invested in defending Mitt, I see MaggieD Oct 2014 #39

okay since you have nothing hfojvt Oct 2014 #42

Why would he pay a higher rate when all he needs to do.... MaggieD Oct 2014 #43

And do what with it. Send it to banksters? People don't care about taxing these folks because they jtuck004 Oct 2014 #7

Exactly MaggieD Oct 2014 #8

no, the reason it is not thinkable hfojvt Oct 2014 #25

Eisenhower got up to 95%. I like Ike. marble falls Oct 2014 #11

Close the loopholes MaggieD Oct 2014 #13

I agree. Close the damn loopholes. JaneyVee Oct 2014 #17

And don't fall for a flat tax as a compromise. marble falls Oct 2014 #18

NEVER. JaneyVee Oct 2014 #20

Trouble with high tax rates is no one ever actually pays them! One_Life_To_Give Oct 2014 #19

that myth of the loophole is just so pervasive hfojvt Oct 2014 #26

Why? I will tell you exactly why.... MaggieD Oct 2014 #32

bullhoey hfojvt Oct 2014 #36

You seem very invested in defending loopholes MaggieD Oct 2014 #37

and you seem so invested in lower rates hfojvt Oct 2014 #40

You're flailing at the wrong problem MaggieD Oct 2014 #41

Because Tax Free Muni's pay even less One_Life_To_Give Oct 2014 #34

Close the loopholes, Buffett was right DFW Oct 2014 #27

Exactly right, IMO MaggieD Oct 2014 #33

it's nice how they provide cover for Obama and the Democrats hfojvt Oct 2014 #28

80% is only a good start. maced666 Oct 2014 #48